Week 8

Accounting and Program Audit Team
Log # 8
By Anthony Caruana

John and I met with Dr. Brenton last week to discuss how we can implement poverty maps for the enterprise development portion of the Accounting team. The meeting went very well in my opinion because Dr. Brenton suggested we come up with a rapid response survey to help us obtain data so it can eventually be compared to data future GLOBE classes can obtain. Dr. Brenton’s idea of a rapid response survey is ideal because it is meant to be a short survey that will provide us with a lot of information that we don’t have (that will also be useful for the finance team) but it can also be used as a “base” that can be compared down the road. This will accurately capture GLOBE’s impact on the areas GLOBE has given loans to. This data could be used for many things including possibly helping the finance team decide if they want to expand where they want to give loans to. Even though the survey may seem short it is designed to be easy for the Daughters of Charity to answer so we do not put an extra burden on them.
We also finalized a borrower repayment form (with the help of the finance team). This is designed to help easily track the loans; when the loans are given, the loan amount, the date of repayment, the amount and interest paid. This information is very important and will be very useful because currently we do not have complete information that this form will provide. These two forms may seem like we are giving the sisters a lot to do but we tried to simplify it as much as possible and both documents are very important and will be vital to future GLOBE classes.
Today’s event ‘Entrepreneurship in a Global World’ was a huge success! Nakita did an amazing job!! Ingrid Fray was also a great speaker. Every question she answered resulted in amazing advice and insight. Dress for Success was an amazing program; I like how she went above and beyond similar programs. She not only gave a suit for an interview to women on welfare but she gave a second suit for a second interview. She did not stop there; if the women were hired Ingrid gave them a week’s worth of clothing and followed them for months. She did this because most of them were homeless and were not used to the corporate world so if they needed help Ingrid was there to help them. She also spoke about her work at Philip Morris, which was very interesting. Her job was to help domestic violence victims and let people know that Philip Morris was this doing this without it looking like Philip Morris was doing it for good publicity. This was a great idea that she came up with in terms of helping the victims (who felt they were stuck because of money). Her idea was to hide money in their lipstick containers; she got the idea from a former boss of hers. Overall all of the speakers were great and the event was a huge success!!

Finance and Risk Assessment Team
Log # 8
By Saachel Parker
This week in GLOBE was entitled Managing Risk in Microfinance: Lessons Learned from the Field. This lecture was led by panelist Deborah Drake, Karla Brom, Christian Ruehmer, and Janice Abraham. As risk management experts they individually spoke about their experiences within the Microfinance industry in regards to risk management mistakes Microfinance Institutions most frequently make. They also stated the techniques needed to keep your microfinance institution from not being successful.
Lessons learned from the lecture: From This lecture I learned that microfinance institutions have been steadily increasing over a twenty year period. They are now able to assist impoverished people worldwide, while providing a wide variety of services. With their new found success also comes hardships. Some of the microfinance institutions did not effectively manage their institutions and now are in jeopardy of failure. They then spoke about how these institutions need to identify, assess, implement and monitor their risks. These steps will immediately lead to improvement in their company’s success. This lecture was very interesting to me, specifically beacuse I am a part of the risk and finance team and learning these techniques are essential for our group to succeed.
Internally in GLOBE the finance and risk team has been preparing for our final presentation. We also have been researching Vietnam and the process it will take for us to branch out and help the people of Vietnam bring themselves out of poverty. We also are still exploring probable interest rates and attempting to get in touch with the Daughter of Charity to see how everything is going with the previous loans that were distributed.
Finally, the GLOBE class has also been preparing for our big fundraising event that going to be launched on November 15, 201l. The risk and finance team donated a basket of goodies that will be perfect for two to enjoy a day at the theater. I am extremely excited and can’t wait to see the outcome of our event.

Marketing and Fundraising Team
Log # 8
By Adam Kotowski

This week the marketing team had our main event. We spent all week planning the event trying to get tables, trying to staff the tables, come up with raffle ideas and ways to sell our promotional items. One of the marketing members, Doug, ended up making flyers and posters for the promo item and the event. They all came out great! Another member of the marketing team, Nakita, did a great job of organizing the whole event. We were able to raise a hundred dollars and we are still selling raffle tickets until December 6th at our final presentation. This gives us plenty of time to raise more money to be able to give out more loans to people struggling with poverty. We also hope to have one more bake sale and our final presentation event. Besides raising money, I think our main event really gave the GLOBE brand awareness around campus. Our table was decorated in GLOBE colors with GLOBE flyers, promotional items and there were students standing around the table in their GLOBE tees. Everyone seemed to be really interested in what GLOBE was when they walked over because of our table. They all wanted to know what GLOBE was before they even asked about the raffle or the promotional items. This is really important because living in America one of the richest countries in the world I think we all forget there are people starving every night and programs like GLOBE not only help these starving people, but also remind other people that not everyone is as well off as we are.
As the semester comes to a close I hope we continue to promote GLOBE. This week I was in New York City, one the richest cities in the world if not the richest, and even here there are people right in front of you starving begging for money. Many of these people have disabilities and their sole job has become begging for money so they could buy food. At this point it occurred to me that if poverty exist right here in the richest city in the world imagine what it is like in one of the poorest continents in the world, where not just a few people are starving, but whole towns, cities and countries. I think people forget how lucky we are to live in the United States. We take it for granted. Even us, in GLOBE, do we really understand what it is like to live in poverty in African countries? Do we really understand who we are actually helping? Do we know what it is like to starve or have children that are starving that you can’t feed? In America a person that is considered to be in poverty could still be living in a house with cable TV and food on the table every night. In Africa, they would be considered rich. That is why it is so important to explain to people what GLOBE is and the people we are helping.

Technology and Communications Team
Log # 8
By Xavier Mogollon

Filming the video logs over the past few days has been a very good learning experience. At first, we had not expected such a large turnout of volunteers for the video logs and didn’t realize how eager everyone was to sacrifice their time to help us. To keep up with all the different times and dates, we had to make a small schedule for the Vlogs and keep special attention to the amount of volunteers we had each day. Sometimes a conflict had to be settled with the scheduling of the volunteers especially if they were on the same team. We came up with a solution to the problem by filming team members together, which would reduce the time spent on filming one person. Taking down phone numbers was a very helpful task that kept the volunteers updated on their roles in the videos. Coming up with good, interesting questions was also a good learning experience. We really wanted fun and thought-provoking questions that gave the audience a small taste of GLOBE. We also decided that asking five questions per person would be manageable and make each video much more organized.
The actual filming sessions were slightly more painstaking than the preparation. Even though we kept a precise schedule of volunteers and their times, we did not expect how long each session would take until we received the perfect footage. While we were interviewing one volunteer, another volunteer’s time would pass and we would have to reschedule them for another time and date. We had to pay particular attention to everyone’s class schedule and see who had a legitimate excuse for leaving early (just so we can prioritize volunteers and filming schedules). On another note, trying to find a quiet area or room to film was also time-consuming.
Time management was a large portion of this experience, paying particular attention to the time of day and the energy (enthusiasm) of our volunteers. We found that as the day dwindled, many of our volunteers had lost most of their energy and seemed out-of-focus during filming. It was our duty to pep up our volunteers and reassure them that this process would go smoothly if they cooperate. Luckily, our volunteers were understanding and made quite an impact in our video logs – their answers were lively and their interest was strong.
We are just about done with the video logs and are scrambling for time; it will take a few hours to fully edit the videos and compile them into four video logs. Luckily, my team has become highly motivated and considers this part of our project a fun experience. I would like to do this again!